Contrasted cases. Successes and failures of local currency schemes in France since 2010

Abstract

This text contemplates the difficulties of French local currencies and the pathways to improvement, in the event of greater sustainability at the local level. After a panorama of the French local currencies, and the observation of a disappointment from a quantity viewpoint, the paper discusses requirements and improvements for a local currency (LC) to contribute to a greater sustainability at the local level. It presents the notion of the relevant territory for a local currency. It then discusses a few crucial points of improvement and the difficulties they face: the role of local governments as major partners; the need for employees in order to constitute a permanent basis for the scheme’s activity and development; the need for an digital counterpart of the currency; the need for financing activities. The conditions for a ripple effect are eventually discussed.